Regional First Deputy Governor Nataliya Portnaya on Tuesday told journalists that the money will be invested in the two towns in a bid to stimulate diversification of the local economies. Ms Portnaya spoke to the press before attending a meeting on monotown development in the region.
Murmansk Oblast has a number of towns which are heavily dependent on one industrial company.
Of the 1.6 billion RUB (40 mill EUR), 1.1 billion will be spent on the establishment of new industry, and 500 million RUB on the project Russian Laplandia, a tourism development project, a press release from the regional government reads.
